Categories
Reports

How many reports are currently available in new QuickBooks Online? How to check reports?

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  • From the home page screen
  • Go to blue navigation bar on the left
  • Select Reports
  • Select “Go to report” (spyglass)
Search Reports
Search Reports

These are standard reports currently available in new QuickBooks Online Plus?

  1. A/P AGING DETAIL
  2. A/P AGING SUMMARY
  3. A/R AGING DETAIL
  4. A/R AGING SUMMARY
  5. ACCOUNT LISTING
  6. Audit Log
  7. BALANCE SHEET
  8. BALANCE SHEET SUMMARY
  9. BILL PAYMENT LIST
  10. CHECK DETAIL
  11. COLLECTIONS REPORT
  12. Company Snapshot
  13. CUSTOMER BALANCE DETAIL
  14. CUSTOMER BALANCE SUMMARY
  15. CUSTOMER CONTACT LIST
  16. DEPOSIT DETAIL
  17. ESTIMATES BY CUSTOMER
  18. Exceptions to Closing Date (Audit History)
  19. EXPENSES BY VENDOR SUMMARY
  20. GENERAL LEDGER
  21. INCOME BY CUSTOMER SUMMARY
  22. INVENTORY VALUATION DETAIL
  23. INVENTORY VALUATION SUMMARY
  24. INVOICE LIST (INVOICE LIST BY DATE)
  25. JOURNAL
  26. OPEN PURCHASE ORDER LIST (OPEN PURCHASE ORDER LIST BY VENDOR)
  27. PROFIT AND LOSS
  28. PROFIT AND LOSS DETAIL
  29. PURCHASES BY PRODUCT/SERVICE DETAIL
  30. PURCHASES BY VENDOR DETAIL
  31. RECENT TRANSACTIONS (TRANSACTION REPORT)
  32. RECENT/EDITED TIME ACTIVITIES
  33. Reconciliation Reports
  34. SALES TAX LIABILITY REPORT
  35. SALES BY CUSTOMER DETAIL
  36. SALES BY CUSTOMER SUMMARY
  37. SALES BY PRODUCT/SERVICE DETAIL
  38. SALES BY PRODUCT/SERVICE SUMMARY
  39. Scorecard
  40. STATEMENT LIST
  41. STATEMENT OF CASH FLOWS
  42. TAXABLE SALES DETAIL
  43. TAXABLE SALES SUMMARY
  44. TIME ACTIVITIES BY CUSTOMER DETAIL
  45. TIME ACTIVITIES BY EMPLOYEE DETAIL
  46. TRANSACTION DETAIL BY ACCOUNT
  47. TRANSACTION LIST BY CUSTOMER
  48. TRANSACTION LIST BY DATE
  49. TRANSACTION LIST BY VENDOR
  50. TRANSACTION LIST WITH SPLITS
  51. TRIAL BALANCE
  52. UNBILLED CHARGES
  53. UNBILLED TIME
  54. UNPAID BILLS
  55. VENDOR BALANCE DETAIL
  56. VENDOR BALANCE SUMMARY
  57. VENDOR CONTACT LIST

Date: 03/26/2014

Categories
Customer Job costing Profit and Loss Reports

Can you run Profit and Loss per Customer Invoice in new QuickBooks Online?

t would be really nice if you can get PnL by invoice or Pnl by product item. At this time, new QuickBooks Online Plus can not provide with such financial report. No such reports are available even though certain cost exist data may already in the QBO file.

If you are selling inventory items and costs are fixed (not variable costs), you can create sub-customer per invoice and may be able to get the PnL by Invoice. Again, I am stretching a little bit here since today’s QBO is designed for job cost, product cost or whatever costing method you want to use.

For non-inventory selling business or servie type selling business, no can do in today’s QBO.

Categories
Recurring Transactions

Does QBO Plus have memorized transaction groups?

Does QBO Plus have memorized transaction groups?

I would like to organize my memorized transactions using a Group like I did in the desktop version.

That would be really nice feature to have it in QBO.

Unfortunately, QBO does not have that feature yet.

Categories
Chart of Accounts Import Data

How to import Chart of Accounts in new QuickBooks Online?

Here are the steps needed to import the Chart of Accounts:

  1. From the gear icon go to Import Data and choose Chart of Accounts.
  2. Read the checklist before importing and make sure your file fits the requirements for import (must be a .csv or Excel file format and must have Account Type and Name fields). I recommend downloading this sample Excel spreadsheet and use it as a format:  https://www.quickbase.com/up/bfwy8i23w/g/re7/eg/va/QuickBooks_Online_COA_Sample_File1.xls
  3. Click Choose File to find your file.
  4. Click Open.
  5. Click Continue.
  6. Click the drop-down menus next to the field descriptions to choose which field to import. If you don’t use a field, choose I don’t have this.
  7. When you’re ready, click Continue.
  8. If you’re missing critical fields, we’ll tell you by showing you an icon with an exclamation point and an instruction (such as Choose typeChoose detail type, or both).
  9. When you’re done, click Import [number] Records.

Important information to note:

  • The Type and Detail Type should match the types in QBO.  If not, you’ll get an error message in red and will need to change each line item manually.
  • Right now you can’t add new types or detail types; these are hard-coded into the system.  Please select the best fit for each account.  Here’s a link to a spreadsheet that has all the detail types listed: Detail Types:  https://www.quickbase.com/up/bfwy8i23w/g/rhw/eg/va/CoA%20Types%20%20Detail%20Types.xlsx
  • The import limit is 2 MB or 1000 rows.
  • The colon character isn’t allowed, so parent:sub-account relationships will have to imported as parents first, then adjusted to become subs on the chart of accounts after the import is completed.
  • See the Learn more link inside QuickBooks Online for exact limits on name lengths and other restrictions.
  • The import is ADDITIVE. That means that it will add accounts to the already-existing Chart of Accounts but won’t subtract the standard ones that came with QuickBooks Online.

IMPORTANT NOTE: You can’t undo this import.

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Categories
Banking Transactions

How to import transactions from Square in new QBO?

Go the home page screen

  • From blue navigation bar on the left select Transactions
  • Select Sales
  • Select Import Transactions (top upper corner)
  • Select Square (from drop down)
  • Follow the instructions
Import Transactions from Square
Import Transactions from Square
Categories
Manage Users

How to change an existing user, set up as an accountant, to a regular user in new QuickBooks Online?

To delete the existing Accountant user:

From the Company Gear icon (top upper corner) go to “Manage Users” under Your Company heading

  • Highlight the Accountant user under Accounting Firms and click Delete
  • Once deleted, click New and add the person one more time
Change Manage Users
Change Manage Users
Categories
Expense

How to enter credit card charges and make payment to credit card company in new QuickBooks Online?

If Credit Card account is not already set-up, you will need to create a new credit card account added to your Chart of Accounts.

  • From the homepage screen, choose the Company Gear (located top upper right corner)
  • Select Chart of Accounts under Settings
  • Click “New” button
  • Category Type = Credit Card
  • Detail Type = Credit Card
  • Name = Chase Credit Card (for example)
  • Description = Chase VISA Credit Card (for example)
  • SAVE

See attached screenshot photos (1, 1.1 & 2 below) for reference.

Let us say in this example, total credit card charges you have entered is $1,200.00 and made $500.00 partial payment, credit card balance will show $700.00 balance as liability on the Balance Sheet.

Assuming they are not downloaded through Online banking.

How to enter credit card charges for $1,200.00 from the Chase credit account?

  •  See attached screenshot photo 3 & 4 below reference
  • Click the Plus (+) sign from the home page screen
  • Choose “Expense” from the Vendors drop-down menu.
  • Under Bank (next to Balance), select Chase Credit Card
  • This is where you will enter all credit card charges.

 

In this example, let’s say you have a Chase Credit Card and making $500 payment.

  • See attached screenshot photo 3 & 5 below reference
  • Under Account column, select Add New

Well, that’s just one side of the payment entry. It will show $500.00 payment to Chase Credit Card which is a liability account on the Balance Sheet.

  • From the homepage screen, choose the Plus (+) sign
  • Select “Expense” (if paying online) or “Check” (if paying by check) under Vendors heading
  • Select Payee = Vendor Name (name of credit card company)
  • Select Bank account from the drop-down list
  • Account = Credit Card account (setup as Credit Card type in the chart of accounts – see attached screenshot)
  • Amount = full amount due or partial amount
  • Save

You can also reconcile credit card statement as you will do like bank account. Here is more information to reconcile credit card account:

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Setup Credit Card account in Chart of Accounts
Setup Credit Card account in Chart of Accounts
Make Credit Card Payment
Make Credit Card Payment

 

Categories
Create Transactions

How can I search for transactions in new QuickBooks Online?

Magnifying Glass
Magnifying Glass

From the home page screen, click on the magnifying glass at the top middle of the page and choose “advanced search”
You can search/find the following transactions:

  • Bill Payments
  • Billable Expense Charges
  • Bills
  • Charges
  • Checks
  • Credit Card Credits
  • Credit Memos
  • Credits
  • Estimates
  • Expenses
  • Invoices
  • Journal Entries
  • Payments from Customers
  • Purchase Orders
  • Refunds
  • Sales Receipts
  • Sales Tax Adjustments
  • Sales Tax Payments
  • Statements
  • Time Charges
  • Transfers
  • Vendor Credits

However, you can not search Vendor Information or Customer Information or Products and Services Information at this time.

If you are looking to search for an invoice by number for example, you can click on the magnifying glass at the top middle of the page and choose “advanced search”. This will allow you to use a few different search options such as amount, amount (line or total) , date, last modified date, memo, name as well as by reference number.

Categories
Credit Memo Customer Center Customers Customers Center

Customer Refund not zeroing out account

If you have credit balance in customer’s account (A/R) and need to refund customer by payment (by check or by online), you should be using Check or Expense under Vendors header, not Refund Receipt form which works differently.

From home page screen, click “+1” sign
Select check (or expense if you paying online) under Vendors header
Select Customer from drop-down that need refund
Go to Account under Account details = Accounts Receivable (A/R)
Amount = refund amount
Save and Close
This entry will clear customer balance due account.

Note: If you have already used Refund Receipt form for this customer, need to delete that entry. That entry all it does is, takes out money from the bank account and also will reduce the income (or selected account for product/service). It does nothing with Customer account/Accounts Receivable account.

SECOND NOTE:

When to use Refund Receipt under Customers header?

If you have originally created Sales Receipt, to invoice your customer and payment received at the time of sale, and now you need to refund money to your customer that is only time use “Refund Receipt” form.

When to use Credit Memo under Customers header?

You have originally created Invoice and received payment and account has zero balance. And, you need to refund money (for whatever reason over-billing / returned item), you will need to create Credit Memo first. And, then issue refund money, using either check (or expense) form under Vendors header.

Categories
Inventory

How to setup inventory in new QuickBooks Online Plus?

This inventory tracking/COGS features are available in QuickBooks Online PLUS. It is not available in QuickBooks Online Essentials or Simple Start.

  • Make sure Inventory setup is enabled under preferences settings.
    • From the company gear (from upper right corner), select company settings
    • Select Products and Services
    • Check Quantity/Price Rate and Quantity on Hand (Inventory Tracking)
    • See attached screenshot photo 1 for reference
  • Product and Service Information form (see attached screenshot photo 2 for reference)
    • Checkbox – I track quantity on hand for the product
    • Enter initial quantity on hand and as of date
    • Select Income Account
    • Select Expense Account = COGS
  • This YouTube tutorial video may also be very helpful.
Enable Products and Services On
Enable Products and Services On
Product Inventory Information Form
Product Inventory Information Form

QuickBooks Online Plus: how to add beginning inventory quantity on hand?